1 00:00:02,520 --> 00:00:09,960 Speaker 1: Bloomberg Audio Studios, podcasts, radio News. The Stock Movers Report, 2 00:00:10,280 --> 00:00:13,360 Speaker 1: your roundup of companies making moves in the stock market, 3 00:00:13,680 --> 00:00:17,480 Speaker 1: harnessing the power of Bloomberg Data. Let's take a look 4 00:00:17,480 --> 00:00:19,000 Speaker 1: at some of the stocks on the move today. 5 00:00:19,000 --> 00:00:21,840 Speaker 2: I'm pulsing alongside Scarlet Foo and we're joined by Normal 6 00:00:21,840 --> 00:00:22,239 Speaker 2: Linda Norm. 7 00:00:22,280 --> 00:00:22,920 Speaker 1: What are you looking at it? 8 00:00:23,120 --> 00:00:24,960 Speaker 2: Well, let's kick things off with the stock that's making 9 00:00:25,160 --> 00:00:29,000 Speaker 2: history today. So Electronic Arts is taker EA. We have 10 00:00:29,160 --> 00:00:31,360 Speaker 2: this stock in focus today up as much as five 11 00:00:31,400 --> 00:00:34,240 Speaker 2: point four percent. This, of course is after the historic 12 00:00:34,479 --> 00:00:37,800 Speaker 2: leverage buyout deal that we're seeing happening here. So Electronic 13 00:00:37,880 --> 00:00:41,000 Speaker 2: Arts is agreed to sell to a group of private investors. 14 00:00:41,240 --> 00:00:44,519 Speaker 2: The deal should be about fifty five billion dollars. This 15 00:00:44,600 --> 00:00:47,680 Speaker 2: is the high'st the largest leverage buyout that we've seen 16 00:00:48,040 --> 00:00:50,600 Speaker 2: on record here. So the consorts gain that they're selling 17 00:00:50,600 --> 00:00:53,920 Speaker 2: it toward or are Silver Lake Management, a Saudi Arabia 18 00:00:54,040 --> 00:00:57,120 Speaker 2: public investment fund. They agreed to pay two hundred and 19 00:00:57,160 --> 00:00:59,400 Speaker 2: ten dollars per share in cash for the company, so 20 00:00:59,400 --> 00:01:02,200 Speaker 2: this does report a twenty five percent premium to where 21 00:01:02,200 --> 00:01:06,000 Speaker 2: it shares traded before. Talks did leak here, So this 22 00:01:06,080 --> 00:01:07,880 Speaker 2: is really what's been in focus over the past couple days. 23 00:01:07,880 --> 00:01:09,800 Speaker 2: If you look at the stock right now, up for 24 00:01:09,840 --> 00:01:13,520 Speaker 2: its highest level on record. Shares are up about thirty 25 00:01:13,640 --> 00:01:16,319 Speaker 2: nine percent so far year today. We're also looking at 26 00:01:16,319 --> 00:01:18,680 Speaker 2: defense stocks. Yes, you have to keep an eye on defense. 27 00:01:18,720 --> 00:01:20,679 Speaker 2: I mean that's an area that I covered super closely 28 00:01:20,720 --> 00:01:23,119 Speaker 2: on the equity team before taking on this new role. 29 00:01:23,200 --> 00:01:26,319 Speaker 2: So always going back toward US defense contractors, we're seeing 30 00:01:26,400 --> 00:01:30,119 Speaker 2: shares of the industry really rising today. If you look 31 00:01:30,120 --> 00:01:34,000 Speaker 2: at Lockheed Martin, L three, Harris, rtx's are all pushing 32 00:01:34,080 --> 00:01:36,600 Speaker 2: higher along with Boeing here, and this is after a 33 00:01:36,640 --> 00:01:39,280 Speaker 2: report from the Wall Street Journal the US Department of 34 00:01:39,319 --> 00:01:42,920 Speaker 2: Defense is pushing missile suppliers to quickly double or even 35 00:01:43,040 --> 00:01:47,280 Speaker 2: quadruple production rates here. So pretty bullish call here, of course. 36 00:01:47,319 --> 00:01:50,000 Speaker 2: And you are seeing a broad brace rally here. If 37 00:01:50,000 --> 00:01:52,840 Speaker 2: you look at S one five arrow a e r O. 38 00:01:52,960 --> 00:01:54,560 Speaker 2: That's an index that I tend to track when you 39 00:01:54,560 --> 00:01:58,720 Speaker 2: look at aerospace and defense contractors here, and that or 40 00:01:58,720 --> 00:02:01,640 Speaker 2: that index is up right now, also hitting its highest 41 00:02:01,680 --> 00:02:03,600 Speaker 2: level ever. Lots of green across the screen today. 42 00:02:03,640 --> 00:02:06,480 Speaker 1: Yeah, my number one offspring works at luckeyed Martin, not 43 00:02:06,520 --> 00:02:07,240 Speaker 1: allowed to talk to me. 44 00:02:07,240 --> 00:02:07,800 Speaker 2: About his job. 45 00:02:09,160 --> 00:02:12,160 Speaker 1: He's titles seeing mom. Yeah, that's what they do over there. 46 00:02:12,440 --> 00:02:14,440 Speaker 1: So anyway, so what else we got. 47 00:02:14,600 --> 00:02:17,160 Speaker 2: Lastly, we want to take a look at Occidental Petroleum. 48 00:02:17,200 --> 00:02:21,040 Speaker 2: Let's take our ox Y here also in talks to 49 00:02:21,120 --> 00:02:25,120 Speaker 2: sell it's Oxycom petrochemical unit. The deal is worth at 50 00:02:25,240 --> 00:02:28,000 Speaker 2: least ten billion dollars. That's according to a report from 51 00:02:28,000 --> 00:02:31,040 Speaker 2: the Financial Times this past Sunday. So you are seeing 52 00:02:31,040 --> 00:02:35,120 Speaker 2: shares of Occidental Petroleum hitting their highest level since April's 53 00:02:35,160 --> 00:02:37,679 Speaker 2: clearly lots of optimism today in the market. But the 54 00:02:38,520 --> 00:02:42,040 Speaker 2: divestment would be the US company's biggest yet and would 55 00:02:42,040 --> 00:02:46,920 Speaker 2: create one of the world's largest dandalone petro chemical companies. 56 00:02:47,680 --> 00:02:51,720 Speaker 1: The Stock Movers report from Bloomberg Radio. Check back with 57 00:02:51,800 --> 00:02:54,400 Speaker 1: us throughout the day for the latest roundup of companies 58 00:02:54,440 --> 00:02:57,519 Speaker 1: making news on Wall Street and for the latest market 59 00:02:57,600 --> 00:03:02,040 Speaker 1: moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube, 60 00:03:02,120 --> 00:03:05,640 Speaker 1: Bloomberg dot com, and on Applecarplay and Android Auto with 61 00:03:05,720 --> 00:03:07,160 Speaker 1: the Bloomberg Business app.